Reopening and Regulations

As developments continue to unfold in response to the spread of COVID-19, we know many small businesses have questions about implications in the workplace and funding options to help bolster their businesses during this difficult time. On this page, we are compiling tips on reopening your business and relevant regulations.

Tax and liability
Washington

State of Washington Employment Security Department

Washington State Unemployment Taxes

In most cases, if you have employees working in Washington, you must pay unemployment taxes on their wages in this state. Tax reports or tax and wage reports are due quarterly. Liable employers must submit a tax report every quarter, even if there are no paid employees that quarter and/or taxes are unable to be paid.

Audience: Small Business Owners

Tax and liability
National

MarketWatch

Postponed Federal Tax Returns Filing Deadlines / Tax Relief

Deadlines to file the following returns that would otherwise be due on April 15 are postponed to July 15.

Audience: Small Business Owners

Tax and liability
National

American Institute of Certified Public Accountants - AICPA

COVID-19 tax relief

Even though the IRS announced extensive filing and payment relief in Notice 2020-23 for deadlines occurring between April 1 and July 15, your clients might have pushed to file their returns early. This could be the case if clients needed to obtain their refunds quickly or perhaps because their economic impact payments were higher based on their 2019 tax returns than their 2018 tax returns.

Audience: Small Business Owners

Tax and liability
National

Pillsbury Law Firm

Business Interruption Claims During Wide-Impact Catastrophes

Companies are facing unique challenges to their businesses, including supply chain interruptions, employee and customer safety concerns and government regulations, restrictions and shutdowns. Wide-impact catastrophes like this pandemic will cause tremendous and long-lasting economic damages. And while policyholders have procured insurance to protect themselves from such catastrophic events, business interruption claims are frequently the most difficult and hotly contested of insurance claims.

Audience: Small Business Owners

Tax and liability
National

The National Law Review

Overview of Business Interruption Coverage

Business interruption coverage generally allows a business to recover certain losses in the event that the business suffers physical damage or loss that prevents it from operating its business, whereas civil authority coverage, generally allows a business to recover losses when it a civil authority issues an order that closes a business or prevents it from normal operations

Audience: Small Business Owners

Tax and liability
New York

New York State Department of Financial Services

Business Interruption Coverage Information

Your broker should be able explain your coverage benefits. The issuer of your policy or its agent should be able to do the same. Any of them may have a website that explains your business interruption benefits. Business Interruption Coverage Your business interruption insurance policy should list or describe the types of events it covers. Events that are not listed on, or not described in, the policy are typically not covered. It is important to review the policy exclusions, coverage limits, and applicable deductibles.

Audience: Small Business Owners

Tax and liability
Missouri

Missouri Department of Insurance

Missouri Department of Commerce and Insurance

Businesses across Missouri have been impacted by closures and losses related to the COVID-19 public health crisis. One common question is the extent to which insurance may cover any losses businesses experience as a result of COVID-19. In order to help address questions related to business interruption insurance coverage

Audience: Small Business Owners

Tax and liability
National

Employee Retention Credit: The CARES Act

Tax Credit For Required Leave

This is a refundable tax credit for employers whose businesses were suspended due to a shutdown order or whose gross receipts dropped by more than 50 percent over the same time period last year. The credit is worth 50 percent of payrolls paid between March 13-December 31, 2020, up to a maximum of $10,000.

Audience: Small Business Owners, Employees, Non-profits